Spero Therapeutics Inc (NASDAQ:SPRO) Sees Significant Growth in Short Interest

Spero Therapeutics Inc (NASDAQ:SPRO) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 361,200 shares, an increase of 14.2% from the September 30th total of 316,200 shares. Based on an average trading volume of 38,000 shares, the short-interest ratio is presently 9.5 days. Currently, 3.1% of the company’s stock are sold short.

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Spero Therapeutics during the 2nd quarter worth approximately $25,000. Marshall Wace LLP bought a new position in shares of Spero Therapeutics during the 1st quarter worth approximately $39,000. D.A. Davidson & CO. bought a new position in shares of Spero Therapeutics during the 2nd quarter worth approximately $115,000. Wells Fargo & Company MN boosted its holdings in shares of Spero Therapeutics by 187.9% in the 2nd quarter. Wells Fargo & Company MN now owns 13,660 shares of the company’s stock valued at $157,000 after buying an additional 8,915 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Spero Therapeutics by 10.9% in the 3rd quarter. Rhumbline Advisers now owns 15,042 shares of the company’s stock valued at $159,000 after buying an additional 1,481 shares during the last quarter. Institutional investors and hedge funds own 50.98% of the company’s stock.

SPRO traded down $0.04 on Friday, reaching $10.22. 21,200 shares of the company traded hands, compared to its average volume of 26,086. The stock’s 50 day moving average price is $10.67 and its 200-day moving average price is $10.93. The company has a market cap of $196.26 million, a price-to-earnings ratio of -3.93 and a beta of 2.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.90 and a quick ratio of 6.90. Spero Therapeutics has a 52-week low of $5.52 and a 52-week high of $14.48.

Spero Therapeutics (NASDAQ:SPRO) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by ($0.10). Spero Therapeutics had a negative return on equity of 43.10% and a negative net margin of 287.11%. The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $2.03 million. As a group, equities research analysts forecast that Spero Therapeutics will post -3.11 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. Cowen reissued a “buy” rating on shares of Spero Therapeutics in a report on Tuesday, November 5th. Oppenheimer reduced their price target on shares of Spero Therapeutics from $30.00 to $20.00 in a research report on Wednesday, October 2nd. Janney Montgomery Scott assumed coverage on shares of Spero Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Spero Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, ValuEngine upgraded shares of Spero Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $23.50.

Spero Therapeutics Company Profile

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections in the United States. Its product candidate includes SPR994, an oral carbapenem-class antibiotic to treat MDR gram-negative infections for adults; SPR741, which is in Phase Ib clinical trial to treat MDR gram-negative infections in the hospital setting; SPR206, an agent that is phase I clinical trial to disrupt the outer membrane of gram-negative bacteria; and SPR720, an oral antibiotic, which is in phase I clinical trial for the treatment of pulmonary non-tuberculous mycobacterial infections.

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